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Economy and Politics

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European Economics and Politics in the Midst of the Crisis

Abstract

This chapter provides our concluding thoughts on economic and political level developments amidst the Great European Crisis, as of early 2013. It describes an integrated approach to the crisis, while it includes an analysis of the European crisis political economy. This analysis identifies certain basic geostrategic issues and economic nationalism phenomena: beggar-thy-neighbor policies; the Euro as an exchange and reserve currency; and the issue of democratic deficit in conjunction with the conduct of monetary policy. The importance of the political shift observed, together with its consequences on economic policy formulation is also analyzed. Finally, the European prospect of a high-risk fragmented European Federation is presented.

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Notes

  1. 1.

    IMF Members’ Quotas and Voting Power and IMF Board of Governors.

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Authors and Affiliations

  1. Department of Economics, University of Athens, Athens, Greece

    Panagiotis E. Petrakis, Pantelis C. Kostis & Dionysis G. Valsamis

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  1. Panagiotis E. Petrakis
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  2. Pantelis C. Kostis
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  3. Dionysis G. Valsamis
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Petrakis, P.E., Kostis, P.C., Valsamis, D.G. (2013). Economy and Politics. In: European Economics and Politics in the Midst of the Crisis. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-41344-5_18

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  • DOI: https://doi.org/10.1007/978-3-642-41344-5_18

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